Now, last, but certainly not least, we continue to have conviction that our shares are materially undervalued. During the quarter, we bought back an additional 1% of our shares outstanding. Our compound annual growth rate or CAGR for our share repurchase program over the past three years, since the peak share count around third quarter of 2020, is approximately negative 11%. And we think that’s top tier across the capital markets. And it compares favorably to the classic, best-in-class share repurchasers, like AutoZone is an example, where AutoZone has retired shares at about a minus 8% CAGR over a 25-year period. So we believe that our share repurchase program provides an opportunity to create incredible value for our long-term, like mind — like-minded owners, who are going to benefit as their per share value continues to grow meaningfully over the coming years.
Now, let’s hear from Alan.
Alan Shepard : Thanks, Nick and good morning to everyone. As Nick mentioned, this quarter represents the 15th consecutive quarter of free cash flow generation through the execution of our sustainable business model and long-term strategic plan. The quarter we generated approximately $19 million in free cash flow, despite the challenging price environment. As we initially laid out our free cash flow plan in the first quarter of 2020, this brings our cumulative free cash flow to approximately $1.8 billion, or around 50% of our current market cap. Looking ahead, we expect this quarter to mark the trough of our free cash flow generation, as the confluence of lower capital, higher expected gas pricing and growth in our New Tech cash flows, solidifies our confidence in achieving robust free cash flow generation in the quarters ahead.
We continue to believe that our shares traded at a significant discount to their intrinsic value and as such during the quarter bought back an additional 2.4 million or 1% of shares outstanding and an average price of $19.50 per share. And after the close of the quarter through October 12, we bought back an additional 1 million shares and an average price of $22.20. Since the third quarter of 2020, we’d have now bought back approximately 31% of our total shares outstanding at an average price of $15.58. An exceptional result not just in our industry anywhere in the capital markets, and we believe those results will only become more impressive as we’re well positioned to continue to take advantage of this opportunity moving forward. Turning briefly to the balance sheet, our significant maturity runway and robust hedge book continue to be key components that underpin our capital allocation flexibility.
Given these two elements, combined with our low-cost position, we remain comfortable with our current leverage profile and have the luxury to remain opportunistic with respect to our debt management. Furthermore, we believe that the growth of the New Technologies Group over the next two years will result in the lower leverage ratio even before considering potential further reductions in absolute debt. Speaking of the New Technologies Group, it continues to deliver tangible results in both positive free cash flow and environmental impact. During the quarter, we recorded approximately $13 million in free cash flow primarily associated with sales and environmental attributes from our waste methane capture activities, which brings our year-to-date free cash flow from New Tech to approximately $19 million.
Further, as Nick mentioned, we continue to have good line-of-sight to the New Technologies Group contributing approximately $75 million to $100 million in free cash flow in 2024. As we said last quarter, free cash flow from New Tech has the potential to be meaningfully higher in the years beyond 2024. Let’s now shift to the updated guidance outlook. Broadly speaking, we are reaffirming the 2023 and initial 2024 guidance that we updated last quarter. As Nick mentioned in his commentary, Nav and the operations team have done an outstanding job in compressing cycle times and accelerating our drilling and completion activity. The accelerated operational results particularly on the completion side have pulled the timing of capital into Q3, and accelerated online dates for our two most recent pads.
